Updates

DX Group - Liberum upgrades price target to 55p

December 2021

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Another pleasing “beat” to finals showing EBITDA increasing 55% to £38.6m and pretax profit of £12m (versus Liberum’s £11.6m forecast). Eps was 1.7p while net cash increased £4.5m to £16.8m.The swing factor was DX Freight, where operating profit rose to £22.9m (FY’21: loss of £0.6m) for operating margins of 10.3%. Most of that growth came from its B2B focused 1-Man unit, which delivers IDW (parcels of irregular dimension and weight) which are harder to transport and may require loading / unloading equipment. 2-Man & logistics grew modestly reflecting increased volumes from existing contracts, which replaced revenue from loss-makers exited last year. Three new dep ...

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S4 Capital

Yellow Cake

DX Group - Bid agreed; gain 161% (January 2024)

DX Group - Possible 48p-a-share offer (November 2023)

DX Group - Acquisition of 15 Tuffnells sites heralds step change in growth prospects (September 2023)

DX Group (March 2023)

DX Group - Eps to double over three years; prospective PE just 5.3 (ex net cash) (January 2023)

DX Group - Moves to remove Chairmen could put both shares “in play” (December 2022)

DX Group (August 2022)

DX Group (October 2021)

DX Group - FinnCap raises price target to 51p (July 2021)

DX Group - Third upgrade since last November (April 2021)

DX Group - Trading materially ahead of expectations (March 2021)

DX - Trading Materially Ahead of expectations (January 2021)

DX Group - Parcels shipper benefiting from Covid related pre-Christmas surge (December 2020)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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